Erste Asset Management GmbH Has $25.50 Million Position in Royal Bank Of Canada $RY

Erste Asset Management GmbH raised its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 32.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 148,654 shares of the financial services provider’s stock after purchasing an additional 36,280 shares during the period. Erste Asset Management GmbH’s holdings in Royal Bank Of Canada were worth $25,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RY. Brighton Jones LLC grew its stake in shares of Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 575 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Royal Bank Of Canada by 60.9% in the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock valued at $1,321,000 after acquiring an additional 4,460 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Royal Bank Of Canada by 57.7% in the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after acquiring an additional 1,934 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Royal Bank Of Canada by 39.1% in the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after acquiring an additional 3,811 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Royal Bank Of Canada by 9.0% in the second quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock valued at $6,279,000 after acquiring an additional 3,928 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 0.1%

RY opened at $194.25 on Monday. Royal Bank Of Canada has a twelve month low of $126.02 and a twelve month high of $195.53. The company has a 50-day simple moving average of $178.35 and a 200 day simple moving average of $170.19. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $269.96 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.53 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter in the prior year, the business posted $3.12 earnings per share. Royal Bank Of Canada’s revenue was up 11.4% compared to the same quarter last year. Analysts predict that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a dividend of $1.76 per share. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 42.41%.

Analysts Set New Price Targets

Several equities analysts recently commented on RY shares. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.